Friday, June 7, 2024
FXC Intelligence's latest report explores female representation in senior leadership roles within the cross-border payments sphere, revealing that women hold only 26 percent of these positions. The analysis covers over 80 major companies and finds that certain companies lack significant female representation at senior levels, with a few having none at all. However, women are prominently represented in HR roles, making up over half of those positions. The findings highlight a discrepancy between these figures and broader industry goals, which typically aim for higher representation. The report, FXC stated, serves as a benchmark for ongoing assessments of gender representation in the industry, with the aim to foster improvements and greater inclusion.
A recent Certified Financial Planner Board study highlights increasing financial confidence among millennials aged 25 to 44, with a significant focus on achieving financial independence. Approximately 43 percent of the 950 millennials participating in the study reported being in a better financial situation than their parents at the same age, attributing this to lessons learned during the 2008 financial crisis. The report identified financial independence as the top life goal for 46 percent of respondents, followed by desires for travel, a healthy retirement, career fulfillment and strong relationships.
Despite facing challenges like high expenses and significant debt, 70 percent of respondents expressed optimism about reaching their life goals, leveraging strategies such as budgeting, additional income streams and savings plans. Efforts to reduce spending focus on discretionary areas like dining out, events and apparel, while maintaining investment in daily pleasures.
AU10TIX's latest identity fraud report revealed a dramatic rise in identity fraud within the online gaming sector, increasing by over 250 percent from the previous quarter, making it a new hotbed for fraud activities. Researchers, who analyzed millions of transactions with the aid of AI and machine learning, found the gaming industry second only to the payments sector, which still attracts 62 percent of all fraud attempts. Noteworthy is the increase in fraud due to the exploitation of promotional bonuses in gaming.
AU10TIX emphasized the effectiveness of facial image capture technology in preventing fraud and recommended stronger KYC and age verification processes for gaming platforms. It also called for enhanced KYC, KYB, and AML protocols for the payments industry amid insufficient regulations.
The forthcoming EU Cyber Resilience Act imposes stringent requirements on manufacturers, sellers and importers to ensure that tech products are free from known vulnerabilities, with potential liability for management in cases of non-compliance, ONEKEY reported. Highlighted in the context of rapidly increasing cyber threats, the Act mandates comprehensive cybersecurity assessments, including the search for zero-day vulnerabilities.
ONEKEY underscored the importance of proactive security measures and documentation to mitigate risks associated with cybersecurity vulnerabilities, with the aim to enhance the overall resilience of digital products and systems against cyber attacks.
Per reporting from Reuters, the Turkish Competition Board, on Thurs., June 6, 2024, stated it had begun an investigation into contracts between Apple and application developers and Apple's refusal to allow alternative payments systems on the App Store. The Competition Board said in a statement that the investigation was undertaken as part of a review of mobile smart devices and software for those devices. 
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